“There is no development strategy more beneficial to society as a whole - women and men alike - than the one which involves women as central players.”
· Achieving women’s equality is a global challenge that no country in the world has yet met. Yet the stakes are high: it is estimated that raising women’s labour force participation rates to that of men could add USD 12 trillion, or 26% to global GDP by 2025. And when women are active economic participants, societies and families benefit.
Women’s Economic Empowerment Challenges:
• Women’s average wages are between 4 to 36% less than men’s and the gap widens in absolute terms for higher-earning women.
• Women are more likely than men to work in informal employment.
• In 2013, women held 24% of senior management roles globally.
• Women carry a disproportionate burden of unpaid care work, which deprives them of time and opportunity to earn money, acquire new skills or participate in public life.
Available data suggests that a 0.1 reduction in gender inequality as measured by the GII is associated with 1% of higher economic growth.
Private Sector
The private sector, which provides about 90% of jobs, is essential for meeting this employment challenge. The key is to identify “gender-smart” workforce solutions that generate opportunities for women while also contributing to companies’ bottom line, productivity, and growth.
Gender Equality Corporate Benefits:
· A More Just and Equitable Work Environment.
· Greater Efficiency and Staff‑ Performance.
· Enhanced Public Image.
· Increased Employee Commitment.
· Reduced Absenteeism.